Cumberland Pharma hopes for $115M in IPO
Cumberland Pharmaceuticals, a Nashville, Tenn., specialty pharmaceutical company with a hodgepodge of acquired products, priced its IPO and now hopes to raise as much as $115 million. The company plans to offer 6.25 million shares, plus a possible overallotment of 937,000 additional shares, at a price between $14 and $16 apiece. The offering would value Cumberland at as much as $403 million.
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.